Most interesting log in the P&S News 38 is the link to the Joint statement from the European Commission and the European Central Bank. As I mentioned before on this blog, it is quite alarming to note that two EU institutions claim to be fully aligned on the topic of the future of payments in Europe.
Luckily there is this last frase that outlines that in this self chosen marriage, the European Commission lies on top:
The Commission and the ECB support to the greatest possible extent continued self-regulation by the industry, but given the importance and the size of the social and economic benefits of SEPA, the Commission expressly reserves the right to introduce or propose necessary legislation to achieve it.
Meaning: the Commission doesn't care any bit aboul all the banking industry stuff and ECB-bla bla. They will regulate, no matter what reality tells them. And as to the cost of this regulation (which will sooner or later end up in banks prices): they won't hesitate to blame it to the banks anti-competitive behaviour.
